Marketing Strategies of Standard Bank Limited (SBL)
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Internship Report on Marketing Strategies of Standard Bank Limited (SBL) SUPERVISED BY MIA, Mohammad Badruddoza, PHD Associate Professor Management and Information System United International University PREPARED BY Shegufa Tabassum ID: 111-143-259 Major in Marketing Program: BBA United International University Submission Date: Monday, 11th November, 2019 Letter of Transmittal Date-11/11/2019 MIA, Mohammad Badruddoza, PHD Associate Professor Management and Information System United International University Subject: Submission of “Internship Report on Marketing Strategies of standard Bank Limited” Dear Sir, I have completed my internship report under your convoy on the topic of “Marketing Strategies of Standard Bank Ltd (Mailbag Branch)” as a suggested of completing the degree, department from BBA program. To make the report inconsistence and match with your standard guidelines, I have tried my level best. I have done my every shot to make this report more valuable and I hope this report will match your pronouncement. I am extremely thankful to you for giving me your worthy time and valuable guidance. Sincerely yours, Shegufa Tabassum ID#111-143-259 Mbl no.-01681450128 Major-Marketing Department-BBA United International University i Acknowledgement First of all I would like to thank the Almighty Allah, without Allah’s bless it would be impossible for me to complete this report successfully. United international University and Standard bank Lid Both gave me full support to complete my internship report. I had a great experience during my internship period on Standard bank Ltd, Malibagh Branch. Second of all I would like to thank my honorable course faculty, MIA, Mohammad Badruddoza, PHD; Associate Professor united international University, for giving me a pointful topic related to my subject and thanks for his valuable support and guidance. Lastly, it is necessary to admit that, I am very much thankful to employees of Standard bank Ltd who were very much supportive to me and shared their time for giving me valuable information related to my report topic. I think that was a best way of knowing about the practical work life. Specially thanks to the following people for giving me a support and courage to complete my report. Md. Habibullah sayed. - SAVP & Manager Md. Zahed Hossain- Executive Officer Israt Jahan Munni – Officer (Cash) ii Executive Summary In Bangladesh, economy is now heavily relying on banking system. Banks are making significant role to balance the economy of our country. Banks are making assure that the money could be used in the deficit zone from the surplus zone. For this, the banks can confirm a steady drift in economy to expand our industry and overall development. Standard bank Ltd knowing as third generation commercial bank organized on 11th may, 1999. Hence, based on that specific need and demand this bank incorporated with a realization of arranging a new set of standard of banking and focused on satisfactory progress from its commercial operation. This report mainly contains 6 parts and each part contains subsidiary parts, Part 1- introduce of the report Part 2-overview of the organization, Part 3-Marketying Strategies of Standard bank Ltd, Part-4 activities undertaken by me, Part 5-SWOT analysis and Findings and lastly part 6- Recommendations and conclusion. This report also contains a very important part called ‘Things I have learned from my internship”. The main goal of this report is to gain knowledge about marketing strategies applying on SBL The marketing strategy views that the Standard Bank Ltd is having equable and sustainable growth; the two groups must be satisfied for the new customer and old customer. At present, the bank should make a good attempt to keep new customers and build a strong relationship with the customer. In this way, we can say that marketing is a service oriented. iii Table of Contents Letter of Transmittal ............................................................................... i Acknowledgement .................................................................................. ii Executive Summary ............................................................................... iii Chapter-1 Introduction of the Report .................................................................. 2 1.1Introduction ......................................................................................................................2 1.2 Origin of the report ..........................................................................................................2 1.3 Methodology .....................................................................................................................2 1.4 Limitations .......................................................................................................................3 Chapter: 2 Overview of Standard Bank Limited ................................................. 4 2.1 The Bank ..........................................................................................................................4 2.2 Vision of the Bank ............................................................................................................4 2.3 Mission of the Bank .........................................................................................................4 2.4 Goals .................................................................................................................................4 2.5 Strategic Intent ................................................................................................................4 2.6 Branches of SBL ..............................................................................................................5 2.7 Management of Standard Bank Ltd ...............................................................................5 2.8 Organogram of SBL ........................................................................................................7 2.9 The Major Products & Service of Standard bank Limited ............................................8 2.10 Brief of Standard Bank Limited Malibag Branch ...................................................... 10 Chapter-3 Marketing Strategies Of Standard bank Ltd .................................... 11 3.1 Marketing Mix for Service Firms ................................................................................. 11 3.2 Marketing Strategies of Standard Bank Limited (SBL) .............................................. 12 3.3 Marketing Mix of Standard Bank limited (SBL).......................................................... 12 Chapter-5 Analysis & Findings .......................................................................... 22 5.1 Swot Analysis ................................................................................................................. 22 5.2 Findings .......................................................................................................................... 23 Chapter-6 Recommendations & Conclusion ..................................................... 24 6.1 Recommendations .......................................................................................................... 24 6.2 Conclusion ...................................................................................................................... 24 Things I learned from my Internship..................................................... 25 Reference ............................................................................................. 26 1 Chapter-1 Introduction of the Report 1.1Introduction Individuals, business and governments need a full range of services which now commercial banks doing dominant the industries. At present in Bangladesh, primary source or contributor are the commercial Banks. The role of this bank is to collect deposit and provide loans and advance and students can gain practical knowledge that can helps them to know life based situations and to introduce a career and make a career path with practical experience through an internship program in banking sector. In order to keep customer satisfy we must know the level of customer satisfaction in bank. Reason for choosing the marketing strategy as a main part is to gain customer satisfaction and marketing mix of Standard bank Ltd. I have tried to find and make differences in banking performances, employs performance and customer satisfaction in this bank. I have also tried to come across with some major findings and based on that provide valuable recommendations. 1.2 Origin of the report As a required for the Bachelor of Business Administration (BBA) Degree of The United international University Bangladesh, I had been selected to work as an Internee in Standard Bank Limited, Mailbag Branch for a period of 3 months from 26th May, 2019 to 26th August, 2019. Md. Habibullah Sayed SAVP & Manager of Standard Bank Ltd employed me as an Internee. With conversation and getting consent, I have started to work on Standard bank Ltd with the titled ‘marketing Strategies”. BBA program has been designed in such a way that a student can get practical knowledge because without practical exposure, theory can never be as good as practical knowledge. 1.3 Methodology This report is focused on secondary source. And the main sources of data for preparing the report are based on secondary information. Secondary Data: Sources of information and collection of data: Interview with clients (face to face) 2 Data from new product Bangladesh bank report Information